Harbin Economy Introduction 4

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4 SWOT Analysis of Harbin Economy

Strength
– Harbin has a traditional and strong industrial base, especially in automobiles and equipment manufacturing.
The logistics center of Heilongjiang Province. Harbin has convenient road, rail and water transportation infrastructure.
– Harbin has an abundance of natural resources such as water, minerals, forests and raw materials for Chinese medicine.
– Harbin Institute of Technology provides solid education in the field of engineering and management.

Weakness
– There’s great income gap between Harbin’s urban and rural populations and between the rich and the poor.
– Located at China’s northeast edge, Harbin is too far away from the rest of the nation, especially from the southern and eastern regions.
– The temperature in winter is too low.

Opportunity
– Located next to Russia, Harbin is much more convenient to develop cooperation and foreign trades with Russia.
– Harbin, as the Ice City, has attracted a large quantity of tourists from home and abroad for its special Snow Festival held annually, the most well-known of which was the 25th Winter Universiade.

Threat
– The regions next to Heilongjiang Province are also developing rapidly, which calls for the lack of resources.
– he backward enterprise structure

5 Suggestions
Harbin is supposed to pay more attention to the county economy. Much more funds are bound to be invested in the county to optimize its infrastructure and the marketing system in order to fulfill the integration of urban and rural economy.

The Chinese government should revitalize the old industry base of Harbin. In this connection, foreign investment is welcomed to restructure the state-owned enterprises (SOEs). According to the State-Owned Assets Supervision and Administration Commission (SASAC), along with the national SOE reform process, SOE in Harbin should in general adopt a more market-oriented development approach. These market-oriented development approaches include speeding up the privatization process by encouraging foreign investment, modernizing internal management structure to make it compatible with modern business operation, introducing a social security system etc.

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